Turkish business groups welcome new Medium-Term Program

ANKARA

Leading Turkish business organizations have welcomed the government’s Medium-Term Program (OVP) for 2027-2029, saying it provides a roadmap for the economy and places emphasis on production, exports and sustainable growth, while stressing the importance of improving companies’ access to finance.

Istanbul Chamber of Commerce (İTO) Chairman Şekib Avdagiç said the program’s comprehensive focus on promoting production and exports, as well as attracting global investment and talent, was a positive step.

Avdagiç said concrete and permanent mechanisms that facilitate access to financing for manufacturing and exporting companies would contribute to achieving the program’s targets.

“The disinflation program should be implemented with determination, and the room created by that process should be translated into a gradual normalization of interest rates,” he added.

The Türkiye Exporters Assembly (TİM) Chairman Mustafa Gültepe highlighted that the new program presented a more cautious framework that takes into account global uncertainties and current economic conditions.

Gültepe said it was important that the program attached special importance to preserving the production and export capacity of the manufacturing industry and addressed support for financing, working capital and labor-intensive sectors in a more concrete manner.

“Our expectation for the coming period is that the financing, cost, market access and competitiveness measures included in the program will be strongly reflected in practice,” he said.

Foreign Economic Relations Board (DEİK) Chairman Nail Olpak said the program was important because it sets out the economy’s roadmap for the next three years and provides guidance for the business community’s future planning.

“The emphasis placed on the quality of growth in order to achieve sustainable growth targets is very important,” Olpak said.

“A growth structure based on productivity gains, high value-added production, strong exports and qualified employment will increase our economy’s resilience against external shocks,” he added.

Olpak said access to financing on appropriate terms was among the key factors that would make the program’s success tangible for businesses.

“Meeting the working capital needs of our production and export companies, improving maturity and cost conditions in investment loans, and supporting the transformation investments of SMEs are of great importance,” he said.

Olpak also welcomed the inclusion of the “Economic Security and Resilience” heading in the program for the first time.

“Global challenges have brought the concepts of security and resilience to the forefront in many areas,” he said.

Olpak said the heading reflected a holistic approach covering stronger energy and natural gas supply security, food security and agricultural resilience, increased domestic production in critical technologies, and the strengthening of family, social and physical resilience.